Oliver Wendell Holmes famously said, “The prophecies of what the courts will do in fact, and nothing more pretentious, are what I mean by the law” (“The Path of the Law” (1897), 10 Harvard Law Review 457, at p. 461). He adopted the perspective of the “bad man”, someone “who cares only for the material […] Read more

Several years ago, in a review of Andrew Ross Sorkin’s excellent review of the 2008 financial crisis, Too Big To Fail, I suggested: Enough is now known about humans’ cognitive tics to start trying to tame them. What if the regulators of financial institutions were required to undergo intensive and ongoing training in behavioural economics […] Read more